NEW YORK--(BUSINESS WIRE)--MetLife, Inc. (NYSE: MET) today issued the following statement regarding
its participation in the Federal Reserve’s 2012 Comprehensive Capital
Analysis and Review (CCAR) and the objection by the Federal Reserve to
the company’s incremental capital distribution plan:

“MetLife is financially strong and well positioned for both the current
environment and a potential further economic downturn. We are deeply
disappointed with the Federal Reserve’s announcement. We do not believe
that the bank-centric methodologies used under the CCAR are appropriate
for insurance companies, which operate under a different business model
than banks,” said Steven A. Kandarian, chairman, president and chief
executive officer of MetLife, Inc. “The established ratios used to
measure insurance company capital adequacy, such as the NAIC’s
risk-based capital ratio, show that MetLife is financially strong. At
year-end 2011, MetLife had a consolidated risk-based capital ratio of
450%, well in excess of regulatory minimums.

“At year-end 2011, MetLife had excess capital of $3.5 billion. We
project our excess capital will grow to $6 billion to $7 billion at
year-end 2012, before any capital distribution actions. It continues to
be our strong belief that excess capital should be returned to
shareholders and we remain fully committed to doing so,” continued
Kandarian. “In the capital plan we submitted, we requested approval for
$2 billion in stock repurchases and an increase of MetLife’s annual
common stock dividend from $0.74 per share to $1.10 per share.”

MetLife continues on track with its plan to cease being a bank holding
company by the end of the second quarter of 2012. In addition to winding
down the forward mortgage business of MetLife Bank, the company
previously reached agreements to sell its depository and warehouse
finance businesses.

“MetLife emerged from the 2008-2009 financial crisis in a position of
strength, and was the only one of the top 19 bank holding companies that
did not participate in the government’s Troubled Asset Relief Program.
Today, we continue to demonstrate significant financial strength,” added
Kandarian.

While MetLife’s business activities are predominantly in the insurance
sector, by virtue of its ownership of MetLife Bank, it is a bank holding
company. As one of the largest 19 bank holding companies by assets,
MetLife was required to participate in the 2012 CCAR, and as a bank
holding company with more than $50 billion in assets, it also was
required to submit its capital plan to the Federal Reserve for review.

MetLife, Inc. is a leading global provider of insurance, annuities and
employee benefit programs, serving 90 million customers in over 50
countries. Through its subsidiaries and affiliates, MetLife holds
leading market positions in the United States, Japan, Latin America,
Asia Pacific, Europe and the Middle East. For more information, visit
www.metlife.com.

Forward-Looking Statements

This press release may contain or incorporate by reference information
that includes or is based upon forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements give expectations or forecasts of future
events. These statements can be identified by the fact that they do not
relate strictly to historical or current facts. They use words such as
“anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,”
“believe” and other words and terms of similar meaning in connection
with a discussion of future operating or financial performance. In
particular, these include statements relating to future actions,
prospective services or products, future performance or results of
current and anticipated services or products, sales efforts, expenses,
the outcome of contingencies such as legal proceedings, trends in
operations and financial results.

Any or all forward-looking statements may turn out to be wrong. They can
be affected by inaccurate assumptions or by known or unknown risks and
uncertainties. Many such factors will be important in determining the
actual future results of MetLife, Inc., its subsidiaries and affiliates.
These statements are based on current expectations and the current
economic environment. They involve a number of risks and uncertainties
that are difficult to predict. These statements are not guarantees of
future performance. Actual results could differ materially from those
expressed or implied in the forward-looking statements. Risks,
uncertainties, and other factors that might cause such differences
include the risks, uncertainties and other factors identified in
MetLife, Inc.’s filings with the U.S. Securities and Exchange Commission
(the “SEC”). These factors include: (1) difficult conditions in the
global capital markets; (2) concerns over U.S. fiscal policy and the
trajectory of the national debt of the U.S., as well as rating agency
downgrades of U.S. Treasury securities; (3) uncertainty about the
effectiveness of governmental and regulatory actions to stabilize the
financial system, the imposition of fees relating thereto, or the
promulgation of additional regulations; (4) increased volatility and
disruption of the capital and credit markets, which may affect our
ability to seek financing or access our credit facilities; (5) impact of
comprehensive financial services regulation reform on us; (6) economic,
political, legal, currency and other risks relating to our international
operations, including with respect to fluctuations of exchange rates;
(7) exposure to financial and capital market risk, including as a result
of the disruption in Europe and possible withdrawal of one or more
countries from the Euro zone; (8) changes in general economic
conditions, including the performance of financial markets and interest
rates, which may affect our ability to raise capital, generate fee
income and market-related revenue and finance statutory reserve
requirements and may require us to pledge collateral or make payments
related to declines in value of specified assets; (9) potential
liquidity and other risks resulting from our participation in a
securities lending program and other transactions; (10) investment
losses and defaults, and changes to investment valuations; (11)
impairments of goodwill and realized losses or market value impairments
to illiquid assets; (12) defaults on our mortgage loans; (13) the
defaults or deteriorating credit of other financial institutions that
could adversely affect us; (14) our ability to address unforeseen
liabilities, asset impairments, or rating actions arising from
acquisitions or dispositions, including our acquisition of American Life
Insurance Company and Delaware American Life Insurance Company
(collectively, “ALICO”) and to successfully integrate and manage the
growth of acquired businesses with minimal disruption; (15) uncertainty
with respect to the outcome of the closing agreement entered into with
the United States Internal Revenue Service in connection with the
acquisition of ALICO; (16) the dilutive impact on our stockholders
resulting from the settlement of common equity units issued in
connection with the acquisition of ALICO or otherwise; (17) MetLife,
Inc.’s primary reliance, as a holding company, on dividends from its
subsidiaries to meet debt payment obligations and the applicable
regulatory restrictions on the ability of the subsidiaries to pay such
dividends; (18) downgrades in our claims paying ability, financial
strength or credit ratings; (19) ineffectiveness of risk management
policies and procedures; (20) availability and effectiveness of
reinsurance or indemnification arrangements, as well as default or
failure of counterparties to perform; (21) discrepancies between actual
claims experience and assumptions used in setting prices for our
products and establishing the liabilities for our obligations for future
policy benefits and claims; (22) catastrophe losses; (23) heightened
competition, including with respect to pricing, entry of new
competitors, consolidation of distributors, the development of new
products by new and existing competitors, distribution of amounts
available under U.S. government programs, and for personnel; (24)
unanticipated changes in industry trends; (25) changes in assumptions
related to investment valuations, deferred policy acquisition costs,
deferred sales inducements, value of business acquired or goodwill; (26)
changes in accounting standards, practices and/or policies; (27)
increased expenses relating to pension and postretirement benefit plans,
as well as health care and other employee benefits; (28) exposure to
losses related to variable annuity guarantee benefits, including from
significant and sustained downturns or extreme volatility in equity
markets, reduced interest rates, unanticipated policyholder behavior,
mortality or longevity, and the adjustment for nonperformance risk; (29)
deterioration in the experience of the “closed block” established in
connection with the reorganization of Metropolitan Life Insurance
Company; (30) adverse results or other consequences from litigation,
arbitration or regulatory investigations; (31) inability to protect our
intellectual property rights or claims of infringement of the
intellectual property rights of others; (32) discrepancies between
actual experience and assumptions used in establishing liabilities
related to other contingencies or obligations; (33) regulatory,
legislative or tax changes relating to our insurance, banking,
international, or other operations that may affect the cost of, or
demand for, our products or services, or increase the cost or
administrative burdens of providing benefits to employees; (34) the
effects of business disruption or economic contraction due to disasters
such as terrorist attacks, cyberattacks, other hostilities, or natural
catastrophes, including any related impact on our disaster recovery
systems, cyber-or other information security systems and management
continuity planning; (35) the effectiveness of our programs and
practices in avoiding giving our associates incentives to take excessive
risks; and (36) other risks and uncertainties described from time to
time in MetLife, Inc.’s filings with the SEC.

MetLife, Inc. does not undertake any obligation to publicly correct or
update any forward-looking statement if MetLife, Inc. later becomes
aware that such statement is not likely to be achieved. Please consult
any further disclosures MetLife, Inc. makes on related subjects in
reports to the SEC.